State Codes and Statutes
Statutes > Maryland > Financial-institutions > Title-3 > Subtitle-7 > 3-719§ 3-719. Right to fair value.
(a) General rule.- The owner of shares of stock that were voted against a consolidation, merger, or transfer of assets is entitled to receive the fair value of those shares, in cash, if the transaction becomes effective.
(b) Procedure by stockholder.- A stockholder who desires to receive payment of the fair value for shares under this section, within 30 days after the transaction becomes effective, shall:
(1) Make a written demand on the successor for payment; and
(2) Surrender the stock certificates.
[An. Code 1957, art. 11, §§ 109, 113; 1980, ch. 33, § 2.]
